This textbook covers the basics of accounting without getting into the gritty details of debits and credits. It is therefore suitable for anyone wishing to understand the fundamentals of accounting without becoming an accountant. A chapter outline is as follows: Chapter 1: Accounting and Accountability Chapter 2: Processing Economic Events Chapter 3: Refining the Recording Process Chapter 4: Internal Control Systems and Reducing Fraud Chapter 5: Financial Reporting for External Users Chapter 6: Analysing Financial Reports Chapter 7: Accountability and Management Decision Making Chapter 8: Planning For the Future Using Budgets Chapter 9: Decision Making in the Short Term: Cost-Volume-Profit Analysis Chapter 10: Longer Term Decision Making Using Relevant Costs Chapter 11: Evaluating Performance Using Variance Analysis Chapter 12: Accounting, Accountability and Social Responsibility